B U L G A R I A

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B U L G A R I A

• Official title Republic of Bulgaria
• Location Southeast Europe, bordering the Black
  Sea, Romania, Serbia, Macedonia, Greece
  and Turkey
• Form of the Government Parliamentary Republic,
  one chamber 240 seats, elections every four
  years
• President Georgi Parvanov
• Rprime-minister Simeon Saxe- Coburg Gotha
• Official Language Bulgarian, alphabet cyrilic
• Capital Sofia (1.2 million inhabitants)
• Area (Thousands of km2)111
• Population (millions) 7.9 (2001)

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Credit Rating of Bulgaria Bulgaria has proven
higher investment credibility
June 2004 StandardPoors gave an
investment-grade foreign-currency rating

• BB?- (stable outlook) by StandardPoors
• BB?- (stable outlook) by Fitch IBCA
• B?1 (stable outlook) by Moodys
• BB?- (positive outlook) by the Japan Credit
  Rating Agency

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Trade between Bulgaria and Japan
(1995- September 2004, USD mln.)
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Japanese Investments
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Investments in the Energy Sector
Project Rehabilitation of U 1-4 construction
of FGDs at units 5 and 6 of Maritsa East 2 TPP

• Rehabilitation of 4x150 MW units installation
  of FGDs Construction of FGDs at units 5 and 6
• EPC Contractor U1-4 Mitsui Co Ltd, JapanEPC
  Contractor FGDs 56 tender May 2004
• Total investment EUR 226 M financed by JBIC
  85 of the project's cost 75 million euro,
  co-financed by ISPA (grant), EBRD (credit) and
  Maritsa East
• Status financial arrangements in process, SP
  assigned 'BB' long-term corporate credit rating
  to Maritsa East II TPP

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Investments in the Energy Sector
Project Construction of replacing capacity on
the site of Maritsa East 1
New capacity 2x335 MW installation of FGDs
Total expected investment EUR 900 M
Project financed BOO
Status financial arrangements in process,
expected financial closure end 2004

• Expression of interest
• AES
• Mitsui ENEL

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Bulgarian Economy, presented on the Internet
Ministry of Economy www.mi.government.bg Privati
zation Agency www.priv.government.bg Invest
Bulgaria Agency investbg.government.bg
Bulgarian Export Insurance Agency www.baez-bg.co
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